AAPL Upgraded by Rothschild Redburn Amid Software Sector Downgrades

Rothschild Redburn has upgraded Apple (AAPL) in its US broker moves update, while Deutsche Bank has downgraded NTSK and S.

The upgrade by Rothschild Redburn is a notable move, given the stock's index weight and beta. The bank's target price for AAPL was not specified.

Deutsche Bank's downgrades of NTSK and S are part of a larger trend in the software sector. According to the source, clustered downgrades like this have historically been viewed as a thesis call on the group rather than on each individual issuer.

The bank's downgrades carry price targets raised at the same time as the rating is cut, which usually signals stretched valuation rather than a worsening outlook.